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Hemp, Inc. Subsidiary Signs Letter of Intent to Purchase 1,000+ Acres of Hemp from 1st Hemp Crop in North Carolina
Hemp, Inc. Subsidiary Signs Letter of Intent to Purchase 1,000+ Acres of Hemp from 1st Hemp Crop in North Carolina.
About this update from Hemp, Inc.
[{"type":"text","content":"\n \n \n Hemp, Inc. Subsidiary Signs Letter of Intent to Purchase 1,000+ Acres of Hemp from 1st Hemp Crop in North Carolina\n \n \nHemp, Inc. Subsidiary Signs Letter of Intent to Purchase 1,000+ Acres of Hemp from 1st Hemp Crop in North Carolina\n \n LAS VEGAS, NV--(Marketwired - Oct 31, 2016) - Hemp, Inc. (OTC PINK: HEMP) is pleased to update shareholders that its wholly owned subsidiary, Industrial Hemp Manufacturing, LLC (IHM), in Spring Hope, NC, has signed a Letter of Intent (LOI) with BioRegen Innovations Cooperative, a cooperative enterprise of farmers, industry experts and seed breeders. BioRegen seeks to build bio regenerative communities throughout the state of North Carolina. According to the signed LOI, Industrial Hemp Manufacturing, LLC (IHM) will purchase the raw hemp that is to be harvested from BioRegen's land in eastern North Carolina, approximately seventy-five miles from Hemp, Inc.'s 70,000 square foot multi-purpose industrial hemp processing facility in Spring Hope, North Carolina. The industrial hemp crop is to be grown on between 1,000 and 1,500 acres of land and harvested toward the end of next year, 2017.\n \"Our LOI with BioRegen is quite momentous. First, this will be one of the first legal crops of industrial hemp to be grown in North Carolina since it was legalized last year. Second, with our commercial industrial hemp processing facility in Spring Hope, NC, we can process millions of pounds of hemp fibers and stalks to be incorporated into thousands of products used for clothing, plastic composites, construction material such as hempcrete, paper, biofuel, absorbent materials and more. Instead of leaving the stalk in the fields to be wasted, or in some cases burned thereby polluting the environment, we have the infrastructure in place to take that wasted fiber and process roughly forty million pounds per year... and that's just with our Temafa decortication line. Our mill can also process the same amount per year so we're looking at a whopping 80,000,000 pounds of fiber and core that can be processed and we are the only ones in America with that capability,\" said Perlowin.\n To see 1-minute daily video updates (from Hemp, Inc. CEO Bruce Perlowin) on the final phases of completion of Hemp, Inc.'s 70,000 square foot industrial hemp processing facility and milling operation and other...